Present value of $1

Periods	4%	6%	8%	10%	12%	14%
1	0.962	0.943	0.926	0.909	0.893	0.877
2	0.925	0.890	0.857	0.826	0.797	0.769
3	0.889	0.840	0.794	0.751	0.712	0.675
4	0.855	0.792	0.735	0.683	0.636	0.592
5	0.822	0.747	0.681	0.621	0.567	0.519
6	0.790	0.705	0.630	0.564	0.507	0.456
7	0.760	0.665	0.583	0.513	0.452	0.400
8	0.731	0.627	0.540	0.467	0.404	0.351
9	0.703	0.592	0.500	0.424	0.361	0.308
10	0.676	0.558	0.463	0.386	0.322	0.270

Present value of an Annuity of $1

Periods	4%	6%	8%	10%	12%	14%
1	0.962	0.943	0.926	0.909	0.893	0.877
2	1.886	1.833	1.783	1.736	1.690	1.647
3	2.775	2.673	2.577	2.487	2.402	2.322
4	3.630	3.465	3.312	3.170	3.037	2.914
5	4.452	4.212	3.993	3.791	3.605	3.433
6	5.242	4.917	4.623	4.355	4.111	3.889
7	6.002	5.582	5.206	4.868	4.564	4.288
8	6.733	6.210	5.747	5.335	4.968	4.639
9	7.435	6.802	6.247	5.759	5.328	4.946
10	8.111	7.360	6.710	6.145	5.650	5.216

Jasmine Company is considering an investment costing $20,000. The investment would have cash inflows of $8,000 per year in each of the three years. Jasmine requires a minimum rate of return of 6 percent.

Required:

A. What is the payback period for the investment? Round your answer to one decimal place. fill in the blank 1 years

B. What is the net present value of the investment? $fill in the blank 2

C. The internal rate of return is greater than fill in the blank 3 % and less than fill in the blank 4